Sanctions related to the Democratic People’s Republic of Korea (North Korea)
Overview
The President of the United States of America has signed an Executive Order ‘Imposing additional sanctions with respect to the Democratic People’s Republic of Korea (North Korea)
In addition to the existing sanctions related to the Democratic People's Republic of Korea, members should keep in mind the recent “Presidential Executive Order on Imposing Additional Sanctions with Respect to North Korea”.
Of particular importance to shipping is Sec. 2.(b) stating that:
No vessel in which a foreign person has an interest that has called at a port in North Korea within the previous 180 days, and no vessel in which a foreign person has an interest that has engaged in a ship to ship transfer with such a vessel within the previous 180 days, may call at a port in the United States.
We recommend that any owner contemplating to call a port in North Korea or otherwise engage in business involving North Korean interests study the information provided in the following articles:
- OFAC Resource Center – North Korea Sanctions
- OFAC FAQ's - North Korea Sanctions
- Presidential Executive Order 13810 of 20 September 2017 Imposing Additional Sanctions with Respect to North Korea
- United Nations Security Council – Resolutions DPRK
Feedback or a question about this information?
Posted:
03 October 2017
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